Economic Study Give Me Shelter
$25 billion – the cost of inaction
Housing All Australians is pleased to have partnered with SGS Economics and Planning to deliver Give Me Shelter. As an Australian first, this economic study outlines the long term economic costs to Australia if we do not house all our people, rich or poor.
With the findings from this study, we aim to bring Australian business together for a national conversation on the importance of Housing all Australians. As a society, we need to understand the long term economic and social implications that this chronic shortage of “non market” driven housing is going to have on Australian society and the economy and to demonstrate the strong underlying business case that exists behind mitigating that outcome.
Having stable shelter is a fundamental human need and its provision is the basis of a successful society. How can a parent or carer bring up a family if they are always having to move? How can people manage the emotional or physiological events of life if their need for stable shelter is not met?
Housing All Australians believes that housing is essential (economic) infrastructure that ensures this fundamental human need is met. Australia has a large and growing population whose income is not keeping pace with house price growth and increasingly higher rents. In increasing numbers, these Australians are making choices between paying the rent or providing food on the table.
Give Me Shelter shows that if this housing shortfall is left unaddressed, the additional cost to Australian taxpayers will reach $25 billion annually by 2051 (in 2021 dollars). If the government cannot afford to fund these costs and we stop supporting the vulnerable in our society, our Australian values will be diminished. We must start the journey towards housing all Australians before it becomes too big for our country to solve.
Housing All Australians is a business-led initiative dedicated to the pursuit of practical solutions to help address Australia’s chronic shortage of low-income affordable housing. We are incredibly grateful for the support of the following organisations in bringing Give Me Shelter to life: APD Projects, Assemble, Assembled, AV Jennings, Australian Institute of Architects, Bendigo Bank, Capire, CBUS Property, City of Sydney, Committee for Melbourne, Council of Capital City Lord Mayors, Department of Families, Fairness and Housing (VIC), Frasers Property Australia, ISPT, Metricon, Minter Ellison, MONA, Narrative, Next Brand, Monash University, Plenary, Salvation Army, Simonds Group, Stockland, The University of Melbourne, TRACT, Victorian Planning Authority.
We encourage all Australian businesses to lend their voice to a national conversation: Housing all Australians – an economic platform for a prosperous country.